Nine months after schedule, Greece finally has some more creditor cash.
The countrys 10-year bond is rallying and Athens stock index hit a two-year high this morning after eurozone and International Monetary Fund officials agreed to unlock an 8.5bn tranche of rescue cash to help Greece avoid default and pay off some of its arrears.
Following months of disagreement with its EU partners, the IMF has agreed in principle to come on board with Greeces bailout in a compromise where it will withhold providing any more cash until it can drill down more details on the debt alleviation measures Greece will get after its rescue ends next August.
The accord breaks a more than 12-month impasse between creditors and will provide reassurances to …
Read the full article at: https://www.ft.com/content/959ef755-c296-3970-adc1-7d1b44db9088
